As announced in a stock exchange notice on 02.07.02, Storebrand has unilaterally mandated Deloitte & Touche to perform an independent review of alleged discrepancies in DnB’s due diligence report. As part of the merger agreement, Deloitte & Touche were appointed as an independent third party to resolve potential disputes. Deloitte & Touche has now completed its review at the request of Storebrand, and conclude that Storebrand’s accounting treatment in connection with the alleged discrepancies are in accordance with good accounting practice.

 

The report will now be submitted to Storebrand’s governing bodies for review, and will be commented further on 14th August in connection with the presentation of Storebrand’s accounts for the 2nd quarter of 2002.

 

Storebrand

Oslo, 30 July 2002